HOUSTON, April 4, 2006—One of the world’s largest business plan competitions awarded more than $260,000 in cash and prizes at an awards banquet on Saturday, April 1, marking the conclusion of the three-day Rice Business Plan Competition (RBPC), the world’s richest university-based business plan competition in guaranteed cash prize money.

The Rice Alliance for Technology and Entrepreneurship and the Jesse H. Jones Graduate School of Management at Rice University hosted the sixth installation of one of the top entrepreneurial gatherings in Houston. Thirty-five of the top MBA schools from around the world presented business plans to a panel of more than 150 distinguished judges were selected based on their expertise in venture capital, early-stage investing, and entrepreneurship.

The Grand Prize valued at over $165,000 was awarded to The Dartmouth College team, Advanced Transit Enterprises. Advanced Transit Enterprises is commercializing a patented tractor-trailer rear drag aerodynamics technology to improve fuel efficiency in the long-haul trucking industry. The team from ATE was awarded:

$100,000 Investment Prize from the GOOSE Society of TexasTM, (the “Grand Order of Successful Entrepreneurs”).

$20,000 cash award provided by Shell Technology Ventures

Office space and facility services provided by the Houston Technology Center and 1-service valued at $15,000

Roundtrip airline tickets on Continental Airlines

The development of a company Web site and hosting services for one year from RentTheSite.com

Software package from Microsoft

Business mentoring from the Silver Fox Advisors

Marketing and design services provided by Brand Extract and The Padgett Group valued at $25,000

Automatic entry into the 2006 MOOT CORP competition

The first place team was not the only school to go home with cash and prizes. Thirty-six cash prizes totaling over $175,000 were awarded; other winners included:

Renovus provides an ostomy-management technology that offers a complete solution for patients who have undergone ostomy surgery. This technology allows patients to return to a more normal method way of life.

4th Place Team: Carnegie Mellon University: NeuroLife

$2,500 cash award from GE Commercial Finance

5th Place Team: Texas A&M University: Cologenomics

$2,000 cash award from Administaff

6th Place Team: Duke University: Cytex Technologies

$2,000 cash award from Administaff

7th Place Team: Harvard University: Avanti Metal Co.

$2,000 cash award from Administaff

All seven finalists also received complementary Web site and hosting services for up to a year provided by RENTthesite.com and software from Microsoft.

Other cash and prizes awarded to the competing schools included:

Murphree Venture Partners Wildcard Round Winners

First Place Team: Stanford University: Renovus (Advanced to Finals)

2nd Place Team: San Diego State University: EnviroBinz

$1,500 cash award

3rd Place Team: Southern Methodist University: Tabletop Media

$1,000 cash award

4th Place Team: Wake Forest University: Audio Fusion Inc.

$1,000 cash award

5th Place Team: University of Michigan: Space Weather Forecasting Technologies

$750 cash award

6th Place Team: University of Pennsylvania (Wharton): Leto Pharmaceuticals

$750 cash award

Fulbright and Jaworski Challenge Round

First Place Teams (in each of the 6 Challenge Round flights)

Georgia Institute of Technology, Intrinsic Securities

University of Colorado, Adventure Training Center

Massachusetts Institute of Technologies (MIT), One World Medical Devices

The Rice Alliance for Technology and Entrepreneurship is Rice University's flagship initiative devoted to the support of technology entrepreneurship. The mission of the Rice Alliance is to support the creation of technology-based companies and the commercialization of new technologies in the Houston community and Gulf Coast region.

The Rice Alliance’s vision is simple, but grand - to help establish Houston as a leading technology and entrepreneurship center in the United States.

Since its inception in late 1999, the Rice Alliance has assisted in the launch of more than 170 new technology companies. Rice Alliance companies have raised more than $300 million in early stage funding. In excess of 300 early-stage technology companies have benefited from participation in Rice Alliance programs as either a presenter or technology showcase company.

The Rice Alliance provides a collaborative network and forum for support, education and exchange of ideas. It provides entrepreneurs access to the human and financial capital needed for success. During the past five years, the Rice Alliance has conducted more than 70 programs attended by nearly 15,000 individuals.